29.01.2015 - Commodities collapse could wipe out entire year's profits at Standard Chartered
Macquarie analysis predicts that 1980s-style oil price slump and default spike will mean huge losses at under-pressure bank. Standard Chartered faces losing a year's profits from the recent collapse in commodity prices as loan defaults spike in a repeat of the 1980s crisis, according to the Australian bank Macquarie. The Asia-focused British bank is believed to be one of the biggest losers from the slump in oil, iron ore and copper prices, with $61bn (£40.2bn) of exposures to producers and traders...............................................Full Article: Source
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